Proxy adviser ISS recommends Pfizer shareholders reject executive compensation proposal
© Reuters. FILE PHOTO: Albert Bourla, Chairman and CEO of Pfizer attends the 55th annual World Economic Forum (WEF) meeting in Davos, Switzerland, January 23, 2025. REUTERS/Yves Herman/File Photo
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(Reuters) -Institutional Shareholder Services has recommended Pfizer (NYSE:PFE) investors reject a proposal on executive compensation due to changes made in the long-term awards for CEO Albert Bourla and other top executives.
The proxy adviser said on Wednesday that the changes added about $1 million in additional value for CEO.
The modification "significantly undermines the at-risk nature of the awards and a pay-for-performance philosophy," the firm said.
Pfizer did not immediately respond to a request for comment.
The company’s shareholders are expected to vote on the proposal at the annual meeting scheduled for April 24.
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